The Registrar of Indigenous Corporations, Mr Anthony Beven, today announced the end of the special administration of the Ngarlan Store Indigenous Corporation (Ngarlan).
Ngarlan owns and operates the community store in Beagle Bay on the Dampier Peninsula, Western Australia. It is the only store for some 80 kilometres and provides a vital service to the Beagle Bay community of nearly 300 people. The community relies on the store for canned, fresh and frozen foods as well as a range of essential everyday household items.
In November 2013 the corporation’s directors, concerned about Ngarlan’s deteriorating financial position, wrote to the Registrar asking for help.
The Registrar appointed Mr Austin Taylor and Mr Stuart Reid from the firm of Meertens Administration Pty Ltd on 18 November 2013 as the special administrators.
‘I’m very pleased with the short time it has taken to put this corporation back on a sound financial footing,’ said Mr Beven. ‘The special administration has gone well and has finished in good time.’
An arrangement has been worked out with the corporation’s creditors and a three-year contract has been negotiated with Outback Stores to run the store. Over the past few months repairs have been made to the air conditioning and the store’s roof with agreement reached with Outback Stores to carry out more permanent improvements to the roof. Most importantly, the store has remained open to meet the needs of the community.
‘This is a particularly good outcome,’ said Mr Beven. ‘Members have given their blessing to Outback Stores taking on the store’s management and Outback Stores will provide stability. Suppliers and others will now have confidence in the store’s long-term operating viability.’
Ngarlan’s former directors have been reappointed by the special administrators. Mr Beven thanked the members of the corporation and both Mr Taylor and Mr Reid from Meertens Administration Pty Ltd for their work over the past four months.
Special administration is a special measure under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 which helps corporations to fix problems. The aim of the process is to restore a corporation to good health and once this is achieved to return control to members as soon as possible. For more information see the fact sheet Special administrations: what members and directors should know. This item and the media release ORICMR1314-14: Registrar assists Beagle Bay store of 18 November 2013 is available at www.oric.gov.au.
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31 March 2014